Communication Intelligence Corp. NASDAQ Listing Approved Equity Private Placement for $ 2.7 Million Completed
REDWOOD SHORES, Calif. — June 27, 1996 — Communication Intelligence Corp. (CIC) announced today that its common stock has been approved for listing on the Nasdaq SmallCap Market.
CIC expects the common stock will begin trading on Nasdaq on July 1, 1996. The trading symbol will continue to be CICI.
Also announced today, the Company has completed a private placement (the "placement") of 600,000 shares (the "shares") of its Common Stock (the "common stock") at a purchase price of $ 4.50 per Share with aggregate gross proceeds of $ 2,700,000. The Company may be required to issue additional Shares to the investors upon the occurrence of certain events.
The Shares sold in the private placement have not been registered under the Securities Act of 1933, as amended, and may not be offered, sold or otherwise transferred in the United States unless they are so registered or pursuant to an exemption from the registration requirements of the Securities Act. The Company has agreed to file a registration statement covering the shares.
Proceeds from the private placement will be used for additional working capital purposes. Libra Investments, Inc. ("Libra") acted as placement agent for the Company in connection with this transaction.
The Company
Communication Intelligence Corp. develops, markets, and licenses natural input computer technology products that use pen and image for input. Founded in 1981, CIC is a leading supplier of pen computing software products to hardware manufacturers throughout the world. The company's products include the multilingual Handwriter Recognition System and SigCheck dynamic signature verification software, and the PenDOS and PenMac pen operating environments. CIC markets software tools such as InkTools and Sign-it which allow signature capture and verification within computer applications. CIC also markets the Handwriter for Windows MacHandwriter peripheral input device products enabling users to have pen computing capabilities on their desktop and laptop personal computers.
CIC is headquartered in Redwood Shores, and has subsidiaries in Japan and China. CIC's stock is publicly traded on the OTC Bulletin Board, symbol CICI.
Note to Editors: Company and product names used herein are trademarks or registered trademarks of their respective companies.
CONTACT:
Communication Intelligence Corp.
Maurice Boucher, 604/689-8588
[email protected]